Harsha Engineers IPO vs Tamilnad Mercantile Bank IPO

Comparision between Harsha Engineers IPO and Tamilnad Mercantile Bank IPO.

IPO Details

Harsha Engineers IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Tamilnad Mercantile Bank IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Harsha Engineers IPO	Tamilnad Mercantile Bank IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Axis Capital Limited Equirus Capital Private Limited Jm Financial Limited	Axis Capital Limited Motilal Oswal Investment Advisors Limited SBI Capital Markets Limited
Registrar	Link Intime India Private Ltd	Link Intime India Private Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Harsha Engineers IPO is up to ₹755.00 Cr whereas the issue size of the Tamilnad Mercantile Bank IPO is up to ₹807.84 Cr. The final issue price of Harsha Engineers IPO is ₹330.00 per share and of Tamilnad Mercantile Bank IPO is ₹510.00 per share.

	Harsha Engineers IPO	Tamilnad Mercantile Bank IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹314.00 per share	₹500.00 per share
Issue Price (Upper)	₹330.00 per share	₹525.00 per share
Issue Price (Final)	₹330.00 per share	₹510.00 per share
Discount (Retail)
Discount (Employee)	₹31.00 per share
Market Lot Size	45 shares	28 shares
Fresh Issue Size		1,58,40,000 shares
Fresh Issue Size (Amount)	up to ₹455.00 Cr	up to ₹807.84 Cr
OFS Issue Size
OFS Issue Size (Amount)	up to ₹300.00 Cr
Issue Size Total		1,58,40,000 shares
Issue Size Total (Amount)	up to ₹755.00 Cr	up to ₹807.84 Cr

IPO Timetable

Harsha Engineers IPO opens on Sep 14, 2022, while Tamilnad Mercantile Bank IPO opens on Sep 05, 2022. The closing date of Harsha Engineers IPO and Tamilnad Mercantile Bank IPO is Sep 16, 2022, and Sep 07, 2022, respectively.

	Harsha Engineers IPO	Tamilnad Mercantile Bank IPO
Anchor Bid Date
Issue Open	Sep 14, 2022	Sep 05, 2022
Issue Close	Sep 16, 2022	Sep 07, 2022
Basis Of Allotment (Tentative)	Sep 21, 2022	Sep 12, 2022
Initiation of Refunds (Tentative)	Sep 22, 2022	Sep 13, 2022
Credit of Share (Tentative)	Sep 23, 2022	Sep 14, 2022
Listing date (Tentative)	Sep 26, 2022	Sep 15, 2022
Anchor Lockin End date 1	Oct 21, 2022	Oct 12, 2022
Anchor Lockin End date 2	Dec 20, 2022	Dec 11, 2022

Financials

Harsha Engineers IPO P/E ratio is 32.67, as compared to Tamilnad Mercantile Bank IPO P/E ratio of 9.22.

Harsha Engineers IPO

Tamilnad Mercantile Bank IPO

Financial

Harsha Engineers International Ltd Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth
31-Mar-19	195	117.9	-27.41	1.41
31-Mar-20	973.24	899.5	21.91	378.02
31-Mar-21	981.07	876.73	45.44	433.22
31-Mar-22	1158.25	1339	91.94	527.9
Amount in ₹ Crore

Tamilnad Mercantile Bank Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus
31-Mar-20	42758.8	3992.53	464.89	3979.65	3837.14
31-Mar-21	47527.17	4253.4	654.04	4579.98	4437.47
31-Mar-22	52858.49	4656.44	901.9	5335.71	5193.2
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

99.70%

Promoter Shareholding (Post-Issue)

74.6

P/E Ratio

32.67

9.22

Market Cap

₹3004.20 Cr.

₹8313.45 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Harsha Engineers IPO retail investors (RII) are offered 83,87,730 shares while in Tamilnad Mercantile Bank IPO retail investors are offered 83,87,730 shares. Qualified institutional buyers (QIB) are offered 47,92,950 shares in Harsha Engineers IPO and 47,52,000 shares in Tamilnad Mercantile Bank IPO.

	Harsha Engineers IPO	Tamilnad Mercantile Bank IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	47,92,950 shares	47,52,000 shares
NII	35,94,780 shares	23,76,000 shares
RII	83,87,730 shares	15,84,000 shares
Employee	88,335 shares	0 shares
Others
Total	1,68,63,795 shares	87,12,000 shares

Bids Received (Subscription)

Harsha Engineers IPO subscribed 74.70x in total, whereas Tamilnad Mercantile Bank IPO subscribed 2.86x.

	Harsha Engineers IPO	Tamilnad Mercantile Bank IPO
QIB (times)	178.26x	1.62x
NII (times)	71.32x	2.94x
Big NII (times)	74.78x	3.10x
Small NII (times)	64.41x	2.63x
RII (times)	17.63x	6.48x
Employee (times)	12.07x
Other (times)
Total (times)	74.70x	2.86x

Compare with others

Harsha Engineers IPO	Tamilnad Mercantile Bank IPO
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Kaynes Technology IPO	Uniparts India IPO
Electronics Mart India IPO	Kaynes Technology IPO
DCX Systems IPO	Electronics Mart India IPO
Tamilnad Mercantile Bank IPO	DCX Systems IPO
Dreamfolks Services IPO	Harsha Engineers IPO
Syrma IPO	Dreamfolks Services IPO
Aether Industries IPO	Syrma IPO
eMudhra IPO	Aether Industries IPO
Paradeep Phosphates IPO	eMudhra IPO

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